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Buy Sudarshan Chemical; target of Rs 795: ICICI Direct

ICICI Direct is bullish on Sudarshan Chemical has recommended buy rating on the stock with a target price of Rs 795 in its research report dated August 11, 2021.

August 18, 2021 / 11:26 AM IST
 
 
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ICICI Direct's research report on Sudarshan Chemical


Established in 1951, Sudarshan Chemical is a leading player in the Indian colour pigment industry with ~35% market share and is also among the top four players globally. It has a wide portfolio of 4,000+ varieties of products of Azos, blue and green, high performance pigments (HPPs), effects, pigment preparations and inorganics Among end users, coatings industries contribute highest followed by plastics, inks, cosmetics and other applications


Outlook


We retain BUY rating on the back of better growth outlook from speciality pigments We value Sudarshan Chemical at 25x P/E FY23E EPS to arrive at a revised target price of Rs 795/share (earlier Rs 775/share).


For all recommendations report, click here

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first published: Aug 18, 2021 11:26 am

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